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Loss Return of Trust

hitesh (student) (17 Points)

30 October 2007

Hi Friends

Can anybody tell me whether return of loss of Trust can be filed or not???

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6 Replies

CA. Dashrath Maheshwari (TaXpert) (15103 Points)
Replied 30 October 2007

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Late CA Sampat Jain (Chartered Accountant) (4772 Points)
Replied 30 October 2007

If you are talking about charitable trust ............NO

Joy (16 Points)
Replied 08 November 2007

yes, Form N0.7

BHAVIK (Senior Accountant) (37 Points)
Replied 08 November 2007

If Receipts of Trust is More than Rs.100000 than that trust has to get thier account Audited and has to file Return whether there is Loss or Income

Ramakrishna (Financial Executive) (438 Points)
Replied 10 November 2007

Dear Bhavik, Section 139(4A) warrants filing of return by a trust only when its total income exceeds the maximum marginal limit. For this purpose, the word 'total income' refers to the income without giving effect to the provisions of Section 11 and 12. However, in cases where income is set apart for future purposes then unless the returns are filed in time how the same can be claimed? Will any one clarify this doubt? With regards.